Cars and Drivers
Chrysler Sales Up 2%; Company Recalls 207,000 Jeep Cherokees
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Analysts at Kelley Blue Book (KBB) had projected August sales at 192,000. KBB analysts also reported that Chrysler’s average transaction price last month was $34,703, up 1.1% compared with the average price in July and up 3% year over year for the month.
On Monday, Chrysler said it is recalling 206,668 four-door Jeep Cherokees built between in 2014 for a defect that could cause the windshield wipers unexpectedly to stop working. Static buildup could occur if the wipers are used on a dry windshield and the buildup could affect the module that controls the wipers. The company said it is not aware of any accidents or injuries related to the defect.
The company���s Jeep brand sold 80,804 units in August. Jeep has now set a sales record for 23 consecutive months. The Jeep Renegade had sales of 8,156 units in its fifth month of availability.
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Ram pickup sales rose 6% in August to 45,310 units, after posting a 1% year-over-year sales increase in July. Last year, Ram sold 43,775 pickups in August. For the year to date, Ram pickup sales are up 4% to 294,045 units and total brand sales are up 7% to 318,542 units. Ram pickups had their best-ever August sales this year.
Year over year, sales of the company’s Chrysler brand are up 14%, as sales of the new Chrysler 200 rose 30% in August to 14,032 units on top of an 85% year-over-year gain in July. Year to date, Chrysler 200 sales are up 112%.
The company’s Dodge brand sales were down 15% year over year in August and are now down 16% for the year to date. The bright spot for the brand came in sales of its Challenger, up 25% to 5,235 units. Sales of the venerable Caravan dropped 18% in August and are down 42% for the year.
Chrysler projected a seasonally adjusted annual rate of sales in the United States from all manufacturers at 17.8 million units for 2015, identical with last month’s projection. The company ended the month with 74 days supply of inventory, down from 82 days at the end of July.
Chrysler’s shares traded lower by about 3.1% in Tuesday’s premarket session, at $13.69, after closed at $14.13 on Monday. The current 52-week range is $8.54 to $17.08.
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